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All the publicly recognized economic geniuses seem to have one talent: the ability to tell us what happened yesterday.

Anyone here could do that, so what are these people paid for? Everyone knew this was a bubble and yet there is no mechanism apparently for dealing with bubbles before they become "too big to burst", no mainstream notion that that would even be desirable - because really it's all bubbles and who are we to discriminate? Is that the idea?

If this is the scienco of economics, just give me back my LSD.

Experience keeps a dear school, but fools will learn in no other. -- Dr Johnson

by melvin (melvingladys at or near yahoo.com) on Sun Oct 12th, 2008 at 04:59:55 PM EST

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